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TurboTax

TurboTax is a product of Intuit. One of the most well know software brands in the United States.

There are a number of different versions, including TurboTax Free Edition, TurboTax Deluxe, TurboTax Premier, etc.
TurboTax is available for both federal and state income tax returns.

When I can buy TurboTax to file tax return for the last year?

Typically, TurboTax federal software is released late in the year and the state software is released mid-January to mid-February. TurboTax normally releases its new versions as soon as the IRS completes revisions to the forms and approves the TurboTax versions, usually late in the tax year. The process is similar for states that collect income taxes.

Does Intuit offer TurboTax software for free?

Yes. There is TurboTax Free Edition. Every year TurboTax is offering its product free by allowing any taxpayer to use a basic version of its federal product for free as part of the Free File Alliance.

So far the offer has been limited to free federal online tax preparation and e-file for the following taxpayers:

1) whose adjusted gross income was $28,500 or less
2) whose adjusted gross income was $52,000 for those in the military
3) for people older than 50 years old

Is it possible to import accounting data in TurboTax?

Yes. You can import or transfer data from and to:

* Quicken 2007-2010.
* QuickBooks 2007 or later versions, but only for TurboTax Windows Desktop tax software (not TurboTax Online or TurboTax for Mac).
* ItsDeductible Online imports to Windows, Mac and online versions of TurboTax.
* TurboTax, TaxCut and TaxACT prior tax year returns, but you must use TurboTax for Windows to transfer data from TaxCut and TaxAct.
* W-2, 1098 and 1099 data from most financial institutions and employers.
* Any software that exports .TXF files.

Does TurboTax guarantee the correctness of the file tax return?

TurboTax has strong error checking and guides you through correcting errors if any are found. It automatically downloads tax form updates at each use and right before the final return is printed or electronically filed.
TurboTax has accuracy guarantees stating that they will pay IRS penalties and interest if the software is not accurate (something that rarely, if ever, happens).

Where can I buy/download TurboTax?

You can purchase TurboTax from a retailers such as Best Buy, Costco, Wal-Mart, Fry's, etc. or you can download online from Amazon.com

Can I get my money back if I don't like TurboTax?

TurboTax guarantees 60-Day money back if you are not satisfied with the product.

Refund Guidelines:

* Refund requests must be within 60 days of purchase
* TurboTax Online fees are non-refundable
* E-filing transmission fees are usually non-refundable
* Please allow up to six weeks to receive your refund

What if other tax software calculates the refund bigger then TurboTax does?

If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to a payment of $14.95 and a refund of your state purchase price paid.
Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than June 15, 2010. E-file, Audit Defense, Professional Review, Ask a Tax Expert, Refund Transfer, and technical support fees are excluded.

Can I return TurboTax after I filed my tax return?

No. Printing or e-filing your return reflects your satisfaction with TurboTax, after this point you are eligible for refund of your TurboTax purchase.

How much TurboTax charges for efiling state tax?

There is a $19.95 e-file fee for state returns. TurboTax Online includes one free federal e-file, and state e-file is included in the $37 cost for TurboTax Online State. Efiling fees vary from year to year.

Does TurboTax allow me to print out my tax return?

Multiple printed returns can be prepared with the Windows or Mac versions of TurboTax tax software, but the online version can only print one tax return.

Does TurboTax offer support to its customers?

TurboTax offers the following options for software support:

* Free software support via phone (Ask a Tax Expert).
* Free software support via chat (Ask Tina).
* Free software support via email.
* Tax topic videos in the software.
* Searchable support web sites.

TurboTax Support is very easy to navigate, with six support topics and well-organized subtopics for using TurboTax and income tax preparation. There is a search box at the top of the TurboTax Support page, and every search I tried brought up relevant answers. TurboTax customers can also ask a question in TurboTax Live Community, and there are links to help via chat and to contact TurboTax Support. The tech support phone number is not immediately listed.

* Ask Tina, a free online chat feature where you can ask one question at a time about using TurboTax.
* Live Community, a free real-time online forum for getting answers to questions through search or by entering your own question.
* Ask a Tax Expert, enter your income tax-related question and get a call back with an answer within an hour (fees may apply).

To get assistance from TurboTax start here: http://turbotax.intuit.com/support/?lid=stic

Does TurboTax offer support for free?

TurboTax does not come with free live help; you have to pay $29.95 per 20-minute phone call or Email and $19.95 for each additional 20-minute session.
Before you decide to pay for any support, try using the TurboTax Live Community. It's free and has many of the answers for which you are seeking.

Do all TurboTax versions inlcude Audit Support?

Yes - all TurboTax versions include downloadable Audit Support Center.

Which version of TurboTax do I have to use for Investment support?

TurboTax Premier

Can I get free replacement of TurboTax if I lost or damaged the disk?

If your newly-purchased TurboTax CD is defective contact Intuit for a free replacement. You are eligible to do that.
Also, you can download a free replacement for 2006–2008 personal federal software from their website:

http://turbotax.intuit.com/support/kb/buying-and-billing/orders-and-refunds/89.html

What is a TurboTax Refund Card?

The TurboTax Refund Card is a new way to get your refund. The TurboTax Card is a prepaid, reloadable Visa card that you can use everywhere Visa Debit is accepted – online, for paying bills, and at ATMs (get free cash withdrawals at over 17,000 MoneyPass ATMs – for other ATMs, fees apply, see fees below).

It’s a great way to get your refund if you don’t have a bank account. By direct depositing your refund onto the card, you’ll avoid possible check cashing fees. Even if you do have a bank account, the card helps you manage your spending to avoid possible overdraft fees.

With the TurboTax Card, you can have your money direct deposited right on the card, and you don’t need a bank account or credit check. Your money is safe, even if the card is lost or stolen. (Certain limitations and a lost card replacement fee may apply. See "Your Liability for Unauthorized Transfers" in the Cardholder Agreement for details.)

It is free to sign up for the card. After the first 30 days, there is a monthly fee of $5.95 per month, which can be waived each month if you reload at least $1,000 on the card during each month, or you have posted 30 purchase transactions each month. See complete fees below.

Your card will have your name on it. You can receive an email or text message (standard carrier fees will apply) when your tax refund and any other direct deposit is applied to your account.

You can split your refund to put money aside – some on the card, some in another account.

TurboTax Freedom Edition vs. "regular" TurboTax products

Like TurboTax Online, TurboTax Freedom Edition is accessed via a secure Internet connection. There is no software to download or install.

Although TurboTax Freedom Edition supports Form 1040 (the "long form") in addition to Forms 1040EZ and 1040A, it does not support tax situations that are uncommon to lower-income taxpayers, such as investments, rental property, and royalty income. Click here for federal forms not supported in TurboTax Freedom Edition.

Unlike other versions of TurboTax, the Freedom Edition cannot transfer last year's tax return, nor can it import W-2 or 1099 data.

How Long Does an Approval of a Tax Return Take?

Once you have completed your return and processed the e-file, your tax return is electronically passed to the Intuit Electronic Filing Center. This takes only moments. Your return is then sent to the Internal Revenue Service (IRS) for processing. Federal returns generally require 24 to 48 hours for acknowledgement while state returns require five days or more. Accepted IRS returns will generate any applicable refunds within 28 days of acknowledgement. However, most returns are issued within five to seven business days after acknowledgement.

Will I Have Access to Tax Returns From Previous Years?

Tax customers often need to refer to a prior year's return. If you file your taxes using TurboTax online, a copy of the completed return will remain on the secure server. Access the return by logging into your account using your established username and password. If you have filed using the TurboTax CD, the prior year's return will be stored on your hard drive or removable storage. Your information will not exist on the secure server.

What is Error Reject Code 0269?

Error Reject Code 0269 is issued when there is a discrepancy in the Recovery Rebate Credit amount. Every return now asks for the amount of Recovery Rebate Credit you received from the prior year. The Recovery Rebate Credit is commonly known as the Stimulus Payment. If you have entered an incorrect amount, your return will be automatically rejected. If you are unsure of the amount you received, contact the IRS for details. You will be required to verify your identity by providing the representative with answers to certain questions. These questions include your Social Security number, address and the prior year's adjusted gross income.

What is Error Reject Code 0679?

Error Reject Code 0679 generates when there is a mismatch of the prior year adjusted gross income amount. The prior year AGI is used as a security feature of by the IRS. The information you provide is matched to the AGI information on file. If the information provided does not match the IRS records, the return is automatically rejected. Refer to your prior year's accepted federal tax return for the exact AGI amount.

Can I check my e-filing status through TurboTax?

TurboTax strongly recommends checking your e-file status through TurboTax because if you need to perform additional steps, such as re-filing a rejected return, you can do it right then and there.
Simply sign in to TurboTax Online or open your return in TurboTax desktop software. Click the Print & File tab and then choose Check E-file Status. Follow the on-screen instructions.

What if I my tax return got rejected?

E-file rejections are common and are (usually) easily fixable.
If your e-filed tax return is rejected by the IRS, you will receive an e-mail notice from TurboTax Electronic Filing Center. This e-mail will give you the IRS error code along with instructions on how to fix it.
Even if not all of your returns were rejected (for example, your federal was rejected but your state was accepted), you'll need to go through the Fix steps for all of your returns. Once you see the Done button you can re-transmit your return.

TurboTax shows my e-file status as "Pending"

This one's easy. "Pending" just means that the IRS or state hasn't acknowledged your return yet. Once they do that, your status will be updated to "Accepted" or "Rejected."
Federal returns can sit in "Pending" status up to 48 hours; state returns may sit in "Pending" status for 5 days, sometimes even longer (the longest we've heard was 19 days, but we're not naming names).
There's not much you can do while your return is in this limbo, other than periodically checking its status. If your return is stuck in "Pending" for an excessively long time, you can try contacting the IRS or state tax agency.